Navigating the Complexity of Construction Contracts and the value of Blockchain Technology: A Systems Dynamics Perspective - Review Paper

This paper examines the integration of systems thinking and blockchain technology in construction contract
management. It addresses the complexities inherent in construction contracts, which are often exacerbated by issues
in transparency, efficiency, and stakeholder collaboration. Systems thinking is applied to understand the dynamic
interactions within contracts, while blockchain technology is explored as a solution for enhancing contract
management, focusing on its capabilities for improving transparency, streamlining execution, and facilitating dispute
resolution. The paper critically analyzes the potential benefits and challenges of blockchain implementation in
construction, including technological complexities, regulatory uncertainties, and industry adoption barriers. Through
a synthesis of current literature and case studies, the paper highlights the transformative potential of combining
systems thinking and blockchain in construction contracts, offering insights into future research directions and
technological advancements needed for effective integration. This approach promises a more efficient, transparent,
and collaborative future in construction contract management, aligning with the industry’s evolving needs in an era of
rapid technological change.